Cost Plus renews defensive stock plan
Home & Textiles Today Staff -- Home Textiles Today, June 27, 2008
The agreement had been set for expiration on June 30, 2008. The board said it will undertake, on an annual basis, a review of whether or not to redeem the rights.
The 295-store specialty retailer said the plan is “an effective means to guard against the potential use of coercive takeover tactics, including the accumulation of shares in the open market or through private transactions, and to prevent an acquirer from gaining control of Cost Plus without offering a fair and adequate price and terms to all of Cost Plus’ shareholders.”
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